Sunil Singhania’s Abakkus picks stake in TTK Healthcare via block deal

India's Forex Reserves

Abakkus, which is owned by Sunil Singhania, bought a piece of TTK Healthcare on the open market on Friday.

Abakkus Asset Manager LLP, which is run by Sunil Singhania, bought 131,788 shares of TTK Healthcare for an average price of 911.08 each.
The Abakkus Diversified Alpha Fund, on the other hand, bought 115,385 shares on the BSE at an average price of 910 per share, according to data on bulk deals on the exchange. All together, this stake is worth 22.5 crore.
MCap India Fund, which is run by Gurgaon-based private equity firm MCap Fund advisors, sold 245,873 lakh equity shares in TTK Healthcare for an average price of 910 per share.

On the BSE, TTK Healthcare went up by almost 13% to 1,022.70. The 52-week high for the stock is 1,105.90 per share, and the 52-week low is 667.50 per share. It is worth 1,445.11 crore on the market.

The net profit of TTK Healthcare Ltd. for the quarter that ended in December stayed almost the same, at 12 crore.

During the same time last year, the healthcare provider had a net profit of 12.17 crore, which included a gain from operations that had been stopped.

In a filing with the government, it said that its operating income went up from 159 crore to 183 crore, while its input costs went up by 23% to 48 crore.
The Indian stock market fell for the third week in a row because of high volatility and a lot of selling after the government raised the securities transaction tax (STT) on futures and options contracts and made other changes in the Finance Bill 2023.

All of the sectoral indices ended in the red, with Media, Metal, Realty, and PSU Bank falling the most. IT was strong throughout the session, but there were small losses at the end.

At the end of the day, the Nifty 50 index was down 0.77 percent, or 131.90 points. It ended at 16,945.05, which is above the psychological level of 17,000. At 57,527.10, the S&P BSE Sensex dropped 398.18 points, or 0.69 percent. Both of the benchmarks lost nearly 1% in a single week.

Source: Team CurrencyVeda